CALGARY, Sept. 19 /CNW/ - Keyera Facilities Income Fund (TSX:KEY.UN;
KEY.DB) ("Keyera") today announced the following senior management changes:
David Smith, currently Executive Vice President and Chief Financial
Officer, will become Executive Vice President, Liquids Business Unit effective
November 15, 2008. In his new role, Mr. Smith will be responsible for all
aspects of Keyera's North American crude oil and natural gas liquids (NGL)
infrastructure and commercial operations, including the development of new
business initiatives associated with the provision of storage, transportation,
supply and logistics services to the growing oil sands sector.
"Keyera's liquids infrastructure and commercial activities will continue
to be a key part of our growth strategy, and David is the ideal person to
provide the necessary vision and leadership," said Jim Bertram, Keyera's
President and Chief Executive Officer. "As CFO, David has been instrumental in
the development of Keyera's vision and strategy over the past ten years, and I
value his continued leadership in this new role."
Michael Freeman, General Manager, Commercial and Jim Hunter, General
Manager, NGL Infrastructure will report to Mr. Smith.
Dean Setoguchi has been appointed Vice President, Finance of Keyera,
effective October 1, 2008. Mr. Setoguchi has 17 years of financial management
experience in the oil and gas industry in Canada. Most recently, he was Chief
Financial Officer of Cordero Energy Inc. He is a Chartered Accountant and a
graduate of the University of Lethbridge.
On November 15, 2008, Mr. Setoguchi will assume the role of Vice
President, Chief Financial Officer from Mr. Smith.
"We are very pleased to have Dean join the Keyera team," said Jim
Bertram. "His financial acumen and leadership skills will be valuable to
Keyera as we continue with our growth strategy and position our people and
assets for the future."
About Keyera Facilities Income Fund
Keyera operates one of the largest natural gas midstream businesses in
Canada. Its business consists of natural gas gathering and processing as well
as the processing, transportation, storage and marketing of natural gas
liquids (NGLs) and crude oil midstream activities. Keyera's gas processing
plants and associated facilities are strategically located in the west central
and foothills natural gas production areas of the Western Canadian Sedimentary
Basin. Its NGL and crude oil infrastructure includes pipelines, terminals and
processing and storage facilities in Edmonton and Fort Saskatchewan, Alberta,
a major North American NGL hub. Keyera markets propane, butane and condensate
to customers in Canada and the United States.
Advisory
This document contains forward-looking statements that involve known and
unknown risks and uncertainties, many of which are beyond Keyera's control.
The forward-looking statements are based on management's current expectations
and assumptions relating to Keyera's business and the environment in which it
operates. As the results or events predicted or implied in these
forward-looking statements depend upon future events, actual results or events
may differ materially from those predicted. Some of the factors which could
cause actual results or events to differ materially include Keyera's ability
to successfully implement planned initiatives, whether those initiatives yield
the expected benefits, the impact of government and industry initiatives,
operating and other costs, future operating results, fluctuations in the
demand for natural gas, NGLs and crude oil, the activities of producers,
competitors and others, the weather, overall economic conditions and other
known or unknown factors. There can be no assurance that the results or
developments anticipated by Keyera will be realized or that they will have the
expected consequences for or effects on Keyera. For additional information on
these and other factors, see Keyera's public filings on www.sedar.com. Unless
otherwise required by applicable laws, Keyera does not intend to publicly
update or revise forward-looking statements, whether as a result of new
information, future events or otherwise.
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